Use this post to share and discuss your lease offers in Golden Valley County, ND. The more we know about what is being offered the better decisions we'll all make. Share your bonus, royalty rate, and any other provisions you were able to negotiate.
Regards,
Offered $600.00 per acre with a 20% royality for three years
We wanted two years and $750 with 25% royality--- no contract yet
Would you provide a Township and Range so we can gauge where this activity is at?
I was made an offer back in October for interests in 141N 104W Sec 14, 26, 30 & 32. Offer was from Empire Oil on behalf of Whiting. $350/acre, 3 yr, 3/16. Haven't responded. Was advised by an active driller in ND to wait. Said should get "easily" $800 or more. Based on what I'm hearing now, royalty should be at least 20%. Going to wait and see what develops.
I have rights in T.141N., R.104W and Sections 13 and 24 and have just been contacted by empire. I am looking to see what would be a fair offer. I see that 'Andy' received an offer of $350/acre, 3 year, and 3/16, back in January 2012.
Have the rates gone up? And were you able to get more from Empire?
Hi Eric,
Haven't heard a word from Empire since October. Tried emailing Whiting direct 11/30/11 but no response. Doubt it ever got to the right party. The fact Empire just contacted you is encouraging. Was the Empire landman Leroy Stenzel? You've spurred me on to do some more snooping. If I come up with any info on nearby areas, I'll report it here.
The empire rep was a Robert Moore. I will post back any info I may find.
We also have a message from Robert Moore but we did not get all of his phone #. If you could send to us we see what his offer is and share it.
Whiting if VERY interested in section 26. They have recent stakes (June 2012) on 26, 27. Plus a new well right next to Maus called Riechoff is up and pumping VERY well. Riechoff is right off the road of county 11, Maus is directly behind it. They are staking to the north of Maus in just about every section going north plus 26 and 27 south. About 12 rigs will go in sometime in the future. They have opened a office in Beach next to the old hospital which they are trying to purchase for rig housing. It is very hush hush for now but something is going to happen soon. Alot of leases in that area are due to expired next year so they may try to extend the leases.. Remember the bonus money is just bait money the real money is in royalty percent. THREE YEAR LEASE ONLY !! DONT DO A FIVE YEAR YOU WILL GET THREE IF YOU DEMAND IT !! I would look for at least a 20% royalty try for 22% it can be done !
Let me know what kind of offer you get, and send Robert Moore's #.
Here is the number for Robert Moore at Empire in Williston; 800-774-2845.
They're asking for 4 year leases. Good Luck.
Empire called today with an offer to extend current leases coming due next year. The offer is $150.00 per acre with the royalty stays the same. Not impressive.